In the country of Vanuatu, located in the South Pacific Ocean, is the island of Satoshi, near Australia, which aims to be the world centre for everything related to cryptocurrencies. And for this it is looking for bitcoin lovers to inhabit it and make a community, about 50,000 people have been interested in this island.
This Satoshi Island is owned by Satoshi Island Holdings Limited (SIHL), which aims to make it the first home for bitcoin and cryptocurrency professionals and enthusiasts. “The island is already owned by our company and is located in Vanuatu, between Australia and Fiji,” they said on Twitter.
After several years of legal and political work, SIHL has been given the green light by Vanuatu’s finance minister to begin construction and development of the project. The island, named after Satoshi Nakamoto, the alleged father of bitcoin, will have a digital property system, based on blockchain, which will serve to verify the ownership of each individual, i.e. each property on the island will be an NFT.
Satoshi Island NFTs will be slightly different from traditional NFTs. They will be more secure and require more involvement from users. One of the features of these NFTs will be the implementation of a “beneficiary” system, meaning that each token will function as a last will and testament, although in this case you won’t need a notary.
So far, the response from the public has been no better. According to The Sun, some 50,000 people are said to be interested in living in this small space. The island, which is expected to be physically visitable by 2023, can now only be inhabited through the metaverse.
To this end, the developers have already set to work to build modular homes, at €60,000 each, which are scheduled to go on sale in the second quarter of 2022. In addition, a total of 5620 NFT of citizenship will be granted free of charge to the first backers.
Real land as NFTs
There are 2100 blocks of land on Satoshi Island and each block is divided into 10 NFTs of land. Buy 10 NFTs to own the whole block and build your own place or buy individual NFTs and develop your block with others.
Land NFTs come with different characteristics describing the area, location, position and land use, but whichever one you get, living and working on Satoshi Island will be an experience like no other.
Purchase of land on Satoshi Island
The first delivery of land on Satoshi Island is available through OKX’s decentralised NFT marketplace. Interested parties will be able to make offers without the need to send funds and once we have enough land buyers to develop the island as advertised, we will accept offers.
OKX NFT has been chosen as our main listing instead of OpenSea as there are many fake versions of our NFTs on OpenSea that could mislead buyers. To keep the community safe, OKX presents and has verified our collection. They have also provided us with zero platform fees leaving more funds to develop and own and reserve their own block of land, so expect to see them on the island soon!